New York State Common Retirement Fund Decreases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

New York State Common Retirement Fund decreased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 0.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 575,458 shares of the Internet television network’s stock after selling 2,530 shares during the period. Netflix makes up approximately 0.7% of New York State Common Retirement Fund’s investment portfolio, making the stock its 20th largest holding. New York State Common Retirement Fund owned 0.13% of Netflix worth $512,917,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Enzi Wealth increased its holdings in Netflix by 3.4% in the 4th quarter. Enzi Wealth now owns 331 shares of the Internet television network’s stock valued at $316,000 after purchasing an additional 11 shares during the last quarter. TCI Wealth Advisors Inc. grew its stake in shares of Netflix by 1.6% in the fourth quarter. TCI Wealth Advisors Inc. now owns 700 shares of the Internet television network’s stock valued at $624,000 after buying an additional 11 shares in the last quarter. Everett Harris & Co. CA grew its stake in shares of Netflix by 1.3% in the fourth quarter. Everett Harris & Co. CA now owns 870 shares of the Internet television network’s stock valued at $775,000 after buying an additional 11 shares in the last quarter. Blossom Wealth Management lifted its stake in Netflix by 0.9% during the 4th quarter. Blossom Wealth Management now owns 1,248 shares of the Internet television network’s stock worth $1,112,000 after acquiring an additional 11 shares in the last quarter. Finally, Beacon Financial Advisory LLC lifted its stake in Netflix by 0.9% during the 4th quarter. Beacon Financial Advisory LLC now owns 1,285 shares of the Internet television network’s stock worth $1,145,000 after acquiring an additional 11 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Reed Hastings sold 48,363 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the sale, the chairman now directly owns 114 shares of the company’s stock, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard N. Barton sold 6,364 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total value of $5,596,374.32. Following the transaction, the director now owns 246 shares of the company’s stock, valued at approximately $216,327.48. This trade represents a 96.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 303,220 shares of company stock worth $289,856,164. Company insiders own 1.76% of the company’s stock.

Netflix Price Performance

NFLX opened at $1,035.85 on Wednesday. The company has a fifty day simple moving average of $934.75 and a 200 day simple moving average of $812.56. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock has a market cap of $443.10 billion, a P/E ratio of 52.24, a P/E/G ratio of 2.19 and a beta of 1.27. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter last year, the firm posted $2.11 earnings per share. Netflix’s revenue was up 16.0% compared to the same quarter last year. On average, research analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Analysts Set New Price Targets

NFLX has been the topic of a number of recent research reports. Wolfe Research upgraded shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price target on the stock in a research note on Thursday, January 23rd. JPMorgan Chase & Co. increased their target price on shares of Netflix from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Phillip Securities downgraded shares of Netflix from a “hold” rating to a “moderate sell” rating in a research note on Friday, January 24th. Piper Sandler reaffirmed an “overweight” rating and issued a $1,100.00 price target (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Finally, Citigroup raised their target price on shares of Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,021.70.

Netflix Company Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.